Price bounced perfectly above our buying level from Friday and is making good progress towards our profit target. We remain bullish above 0.7012 support (Fibonacci retracement, horizontal pullback support) for a further push up to 0.7137 (Fibonacci retracement, horizontal resistance, bullish divergence potential).
RSI (34) is also seeing a bounce from support at 36% and bullish divergence vs price signalling a bullish reversal is in progress.
Buy above 0.7012. Stop loss at 0.6948. Take profit at 0.7137.
